12904. First Territorial Bank (Lovington, NM)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 1, 1921
Location
Lovington, New Mexico (32.944, -103.349)

Metadata

Model
gpt-5-mini
Short Digest
b107b29cf984dfb2

Response Measures

None

Description

Two newspaper items (Nov 1 and Nov 11, 1921) report that the First Territorial Bank of Lovington suspended business and that R. R. James was appointed receiver by the state bank examiner. No mention of a depositor run; closure appears to be a formal suspension with receiver appointed.

Events (2)
1. November 1, 1921 Suspension
Cause
Government Action
Cause Details
State Bank Examiner James B. Read announced the closing; state bank examiners designated a receiver.
Newspaper Excerpt
LOVINGTON BANK SUSPENDS...R. R. James, former cashier, has been designated by the state bank examiners's office as receiver for the First Territorial bank. of Lovington, which has suspended business.
Source
newspapers
2. November 11, 1921 Receivership
Newspaper Excerpt
R. R. James, former cashier, has been appointed receiver of the First Territorial bank at Lovington, the closing of which was announced recently by State Bank Examiner James B. Read.
Source
newspapers

Newspaper Articles (2)
1. November 1, 1921 The Evening Herald Albuquerque, NM
Article from The Evening Herald, November 1, 1921

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Article Text

LOVINGTON BANK SUSPENDS. SPECIAL TO THE HERALD SANTA FE. Nov. 1.-R. R. James. former cashier, has been designated by the state bank examiners's office as receiver for the First Territorial bank. of Lovington, which has suspended business.

2. November 11, 1921 New Mexico State Record Santa Fe., Santa Fe, NM
Article from New Mexico State Record, November 11, 1921

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Article Text

LEA R. R. James, former cashier, has been appointed receiver of the First Territorial bank at Lovington, the closing of which was announced recently by State Bank Examiner James B. Read. The latter stated that the bank, which formerly had more than $500000 deposits, had total resources, when it closed, of $431,000, including $60,000 capital stock and surplus of $25000.